Royal Decree-Law 7/2021, of April 27, is approved and published, through which new developments in competition law are introduced that affect, among others, the maximum limit of fines that companies may face, the novelties in this matter aim at a more efficient application of the competition regulations in our country.

Likewise, the norm introduces changes in the matter of money laundering, the list of obliged subjects is expanded and the fulfillment of obligations in this issue is required from people who provide virtual currency exchange services for legal tender. Finally, with regard to the registers of beneficial owners, a system of public and no longer limited access is established.

Among others, the legal text contains modifications that affect the value added tax for the provision of services and distance sales of goods.

In terms of consumers and users, the minimum levels of consumer protection are hardened, so that the time in which the seller must assume the lack of conformity of the product is increased to three, and it is established in ten, the years in that the availability of technical service and spare parts must be guaranteed by the manufacturer.

Finally, as to the contracting of digital services in exchange for personal data, the existing legal vacuum is covered and obligations regarding data protection are established for the companies that provide this type of services.